Turkmenistan's oil and gas industry is working to develop licensed offshore blocks located in the Turkmen sector of the Caspian Sea.

Deputy Prime Minister G. Agajanov reported this at a meeting of the Government of Turkmenistan.

As stated, in order to attract foreign investment into the country's economy, fruitful cooperation is being carried out in the oil and gas industry with large foreign companies based on the established legal and economic conditions and a favorable investment climate.

In particular, extensive work is being carried out and important projects are being implemented to develop licensed offshore blocks in the Turkmen sector of the Caspian Sea.

In this regard, the Deputy Prime Minister submitted a corresponding proposal to the head of state for consideration.

President Serdar Berdimuhamedov emphasized that the development of oil and gas fields in the Turkmen sector of the Caspian Sea will contribute to the expansion of hydrocarbon reserves and attract foreign investment. Having approved the proposal for further joint activities with foreign partners in this area, the head of state instructed the Deputy Prime Minister to carry out the relevant work, the State News Agency of Turkmenistan reports.